Zura Bio (NASDAQ:ZURA) Upgraded by Leerink Partnrs to "Strong-Buy" Rating

Leerink Partnrs upgraded shares of Zura Bio (NASDAQ:ZURA - Free Report) to a strong-buy rating in a research report sent to investors on Monday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler reiterated an "overweight" rating and issued a $26.00 target price on shares of Zura Bio in a research report on Thursday, September 19th. Leerink Partners began coverage on Zura Bio in a report on Monday. They set an "outperform" rating and a $15.00 price objective for the company. HC Wainwright restated a "neutral" rating and issued a $5.00 target price on shares of Zura Bio in a research note on Monday, October 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zura Bio in a research note on Friday, October 18th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $16.75.

Zura Bio Trading Down 5.9 %

Shares of NASDAQ ZURA traded down $0.26 during mid-day trading on Monday, hitting $4.11. 424,536 shares of the company traded hands, compared to its average volume of 324,888. The business has a 50 day moving average of $4.17 and a two-hundred day moving average of $4.09. Zura Bio has a 1 year low of $2.00 and a 1 year high of $6.35.

Zura Bio (NASDAQ:ZURA - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Sell-side analysts predict that Zura Bio will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Someit Sidhu sold 51,728 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $3.87, for a total value of $200,187.36. Following the transaction, the director now directly owns 2,085,418 shares of the company's stock, valued at approximately $8,070,567.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in Zura Bio during the second quarter valued at about $8,446,000. Armistice Capital LLC lifted its position in shares of Zura Bio by 53.2% during the 2nd quarter. Armistice Capital LLC now owns 2,524,000 shares of the company's stock worth $8,834,000 after purchasing an additional 876,000 shares during the last quarter. Great Point Partners LLC boosted its stake in Zura Bio by 68.3% during the 2nd quarter. Great Point Partners LLC now owns 4,642,241 shares of the company's stock valued at $16,248,000 after purchasing an additional 1,884,501 shares during the period. Forefront Analytics LLC grew its holdings in Zura Bio by 22.1% in the 2nd quarter. Forefront Analytics LLC now owns 41,569 shares of the company's stock valued at $145,000 after buying an additional 7,531 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Zura Bio in the 2nd quarter worth approximately $43,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Zura Bio Company Profile

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.